A green shareholder activist group has decided to “pause” its work pushing oil companies to reduce their emissions amid a growing investor backlash against climate action.
Follow This has confirmed that it will not file any climate resolutions against oil and gas companies during the forthcoming AGM season for the first time since 2016.
The Netherlands-based group, which has been one of the most successful shareholder activists of recent years, blamed “the changing political landscape” and “the backlash against climate-conscious investors” for the decision by “most institutional shareholders” to pull their support for climate resolutions.
The group pointed to a number of US states which have taken legal action against big investors for supporting climate action, and the recent decision of US regulators to drop climate investment disclosure rules as key factors behind the trend.
A group of money driven, greenwashing investors dropped any pretences of environmental convictions as soon as their potential capital gains might get negatively affected.
Money driven people never cared, care or will care about the greater good.
It’s always funny to watch people try to fix capitalism by doing more capitalism…
The rich show us yet again the only way to stop the death of the planet and our species is to strip them of their wealth and power.
Fuck it. Humans don’t deserve to survive.
